A Retailer Wants to Implement Customer Relationship Management (CRM)

question 24

Multiple Choice

A retailer wants to implement customer relationship management (CRM) . The first step in the implementation process is to:

• A) update the customer master file
• B) become customer-centric
• C) decide on CRM software
• D) select an implementation partner

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Definitions:

Operating Income (EBIT)

Earnings Before Interest and Taxes, a measure of a company's profitability from its operations.

Dollar Sales

The total revenue generated from the sale of goods or services, measured in dollars.

Financial Leverage

The use of borrowed funds (debt) to amplify returns from an investment, which can increase the potential for profit as well as loss.

Variable Cost Ratio

The proportion of variable costs to total sales, indicating how variable costs change with sales levels.